Apollo Group Backdating Suit Gets The Boot

Law360, New York (April 5, 2011, 5:43 PM EDT) -- An Arizona federal judge on Thursday dismissed with prejudice a twice-amended proposed class action claiming top brass at Apollo Group Inc., which runs the for-profit University of Phoenix, illegally backdated stock option grants going back more than a decade.

Judge Robert C. Broomfield of the U.S. District Court for the District of Arizona ruled that the Teamsters Local 617 Pension and Welfare Funds' second amended complaint made many of the same backdating allegations previously dismissed as untimely.

"Plaintiff has been given the opportunity to amend once,...
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